Al-Etihad Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	325,658	426,316	-23.611	317,227	2.657
Result of Insurance Services	8,189	46,025	-82.207	-48,157	-
Net Profit (Loss) of The Insurance Results	-42,895	29,740	-	-65,127	-34.136
Net Profit (Loss) of The Investment Results	13,401	-17,005	-	4,135	224.087
Net Insurance Financing Expenses	-570	-2,310	-75.324	541	-
Net Profit (Loss), After Zakat, Attributable To Shareholders	-33,547	3,867	-	-63,694	-47.33
Total Comprehensive Income	-33,547	3,867	-	-63,694	-47.33
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	931,202	1,164,100	-20.006
Result of Insurance Services	-39,082	97,931	-
Net Profit (Loss) of The Insurance Results	-131,425	56,191	-
Net Profit (Loss) of The Investment Results	34,203	23,774	43.867
Net Insurance Financing Expenses	-945	-6,812	-86.127
Net Profit (Loss), After Zakat, Attributable To Shareholders	-109,159	55,916	-
Total Comprehensive Income	-106,651	55,916	-
Total Shareholders Equity (after Deducting Minority Equity)	575,006	700,536	-17.919
Profit (Loss) per Share	-2.18	1.12
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-26,787	-5.36
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is	The decrease of 23.6% in insurance revenue during the current quarter, compared to the similar quarter of the last year, is primarily attributable to the decrease in gross earned premiums.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for incurring losses during the current quarter, as compared to recording profits in the comparative quarter of last year, is primarily attributable to the decline in insurance service results and the increase in net expenses from reinsurance contracts. This was partially offset by reporting investment income during the current quarter compared to net investment losses in the comparative quarter.

Element List

Explanation

The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is

The decrease of 23.6% in insurance revenue during the current quarter, compared to the similar quarter of the last year, is primarily attributable to the decrease in gross earned premiums.

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

The reason for incurring losses during the current quarter, as compared to recording profits in the comparative quarter of last year, is primarily attributable to the decline in insurance service results and the increase in net expenses from reinsurance contracts. This was partially offset by reporting investment income during the current quarter compared to net investment losses in the comparative quarter.

It is worth to clarify that the losses recorded in the investment results of the comparative quarter are resulted due to the reclassification of one client's receivables into Sukuk investment as a result of the Financial Reorganization Plan of this client, and as a result, a provision for expected credit losses amounted to SAR 34 Million was recorded for this sukuk investment, which was previously recorded in the same amount as provision for receivables expected credit losses (classified under the umbrella of insurance revenues). No financial impact on comparative quarter's profits was resulted from this reclassification transaction.The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is The increase of 2.7% in insurance revenue for the current quarter compared to the previous quarter is mainly attributable to the increase in gross earned premiums.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is The decrease in net losses after zakat in the current quarter compared to the previous one is mainly due to the improvement in insurance service results, driven by lower insurance service expenses during the current quarter compared to the previous quarter, and reporting higher investment income. This was partially offset by an increase in net reinsurance expenses as a result of reporting lower recoverable from reinsurance contracts.The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is The decrease of 20% in insurance revenue during the current period compared to the corresponding period of last year is primarily attributable to a decline in earned premiums.The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for incurring losses during the current period, compared to profits in the corresponding period of last year, is primarily due to reporting losses in insurance service results of current period compared to profits in the comparative period. In addition to the increase in in net reinsurance expenses.Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) NAReclassification of Comparison Items Certain comparative figures in the statement of financial position have been reclassified to align with the current period’s presentation. These reclassifications better reflect the nature of these amounts and have no impact on the total equity or profit previously reported.

Kindly refer to note 25 in the financial statements for more details about the impact of reclassification on the statement of financial position as at December 31, 2024 and January 1, 2024Additional Information Earnings (losses) per share was calculated based on Net Income (loss) after zakat amounted to SAR (109,159K) for current period compared to SAR 55,916K for similar period of last year divided by the number of shares of 50 Million shares.

Gross Written Premiums (GWP) for the current period is amounted to SAR 904,358K compared to SAR 1,012,731K during the similar period of last year.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.